Ahead of June 3 Election, South Korean Presidential Candidates Are Aggressively Courting the Crypto Community

With an estimated 16 million cryptocurrency investors representing 36% of South Korea's voting population, presidential candidates are aggressively courting the crypto community

With an estimated 16 million cryptocurrency investors making up 36% of South Korea’s voting population, presidential candidates are showing interest in the crypto community ahead of the June 3 election.

According to a report by Point Daily, crypto voters’ political significance has grown with Bitcoin’s market capitalization in Korea now exceeding 2,600 trillion won. This has rivaled the combined value of KOSPI-listed companies.

As Point Daily notes, these 16 million investors comprise a substantial portion of the country’s approximately 44.25 million eligible voters from the previous general election.

Major parties are using crypto-specific strategies to attract these voters. The Democratic Party has brought Professor Kim Yong-jin of Sogang University, a token securities expert, into their campaign team. Representative Min Byeong-deok of the same party has introduced a draft Basic Digital Asset Act that includes provisions for a stablecoin authorization system linked to legal tender.

The People Power Party, which confirmed its candidate on June 3, has shared seven major crypto-related initiatives. This includes abolishing the restrictive one-exchange-one-bank system, instit